Angola Road Network Transformation Underway with Africa Finance Corporation Funding Support

Africa Finance Corporation (AFC) is spearheading a critical infrastructure initiative, financing a €381.5 million project to enhance Angola's road network. The project focuses on constructing 186 bridges and advancing road improvements essential for the nation's economic diversification. AFC has invested €85 million and collaborates with several significant entities, including the Export-Import Bank of the U.S. and Standard Chartered Bank.

Initiated by Angola's Ministry of Public Works, Urban Planning and Housing, the project seeks to promote accessibility and drive local economic growth, particularly in agriculture. The improvement of road connections will aid the transport of essential goods, contributing to reduced reliance on food imports and bolstering local food production capabilities. Sanjeev Gupta of the AFC highlighted the project's alignment with Angola's climate adaptation strategy and its focus on creating resilient infrastructure. This initiative also extends AFC's commitment to supporting regional connectivity, as evidenced by its involvement in the Lobito Corridor project.